1931 WILL WITNESS TURNING POINT.

Star (Christchurch), Issue 19268, 3 January 1931, Page 1

1931 WILL WITNESS TURNING POINT.

CAPITAL AND LABOUR MUST CO-OPERATE, V (United Press Assn.—By Electric Telegraph.—-Copyright.} LONDON, January 2. The “ Financial News” opinion that 1931 will witness, not only the turning-point, but the traversing of an appreciable stretch on the upward course. The “Financial Times” sees indica* tions that 1931 will prove another and perhaps the final phase in the economic readjustment period. Co-operation be* tween Capital and Labour is needed tq) a greater extent than ever. BRITISH FINANCES FOR 1930 ARE EXAMINED* RUGBY, January 1. The depression in trade is reflected in the Treasury returns showing the national revenue and expenditure for the first nine months of the current financial year. Although an increase in ordinary revenue of barely £17,000,000 is recorded, ordinary expenditure has increased by £25,000,000 as compared with the corresponding period of last year. The deficit shown amounts to £180,000,000, against a deficit of £170,000,000 at the corresponding date last year. No estimate of the year’s results can, however, be formed at this stage, as the larger part of the income tax is usually collected in the last quarter of the financial year. Substantial increases are recorded in revenue during the nine months from income tax, surtax and death duties. Decreases occurred in revenue from stamps, excise and miscellaneous receipts.